Prepare the entry to record the gross payroll and prepare

Assignment Help Accounting Basics
Reference no: EM13600872

Prepare the entry to record the gross payroll and prepare the entry to record employer payroll taxes if you have the following information:

  • Gross Wages: 140,000
  • Federal Withholding: 33,000
  • Hospital Insurance Premiums: 3,050
  • FICA: 7.65%
  • State Unemployment: 2.0%
  • Federal Unemployment: 0.8%

78,000 of wages are subject to FICA
36,000 are subject to unemployment taxes

Reference no: EM13600872

Questions Cloud

Conyers water inc bottles and distributes spring water on : conyers water inc. bottles and distributes spring water. on july 5 of the current year conyers water inc. reacquired
Martin corporation was organized on january 3 2007 martin : martin corporation was organized on january 3 2007. martin was authorized to issue 50000 shares of common stock with a
Citizens bank has several departments that occupy both : citizens bank has several departments that occupy both floors of a two-story building. the departmental accounting
Determine the following amounts after the stock dividend : organic health co. is an hmo for businesses in the chicago area. the following account balances appear on the balance
Prepare the entry to record the gross payroll and prepare : prepare the entry to record the gross payroll and prepare the entry to record employer payroll taxes if you have the
Which of the would be subtracted from net income when : which of the would be subtracted from net income when using the indirect method to derive net cash flows from operating
The chief cost accountant for dr cinnamon beverage co : the chief cost accountant for dr. cinnamon beverage co. estimated that total factory overhead cost for the blending
Common stock 10 par 50000 shares authorized2000 shares : the following information pertains to kwon corp. at january 1 2010.common stock 10 par 50000 shares authorized2000
Twenty additional kayakers pay 3200 160 each in addition to : twenty additional kayakers pay 3200 160 each in addition to the 5500 that was paid in advance on july 30 on the day of

Reviews

Write a Review

Accounting Basics Questions & Answers

  Which of the factors in not taken into account when

which of the factors in not taken into account when determining if a gain or loss should be recognized on the transfer

  Equivalent units of production for materials

For the month of January, there were no units in the beginning work in process inventory; 60,000 units were started into production in January; and there were 15,000 units that were 40% complete in the ending work in process inventory at the end o..

  On march 1 fixtures and equipment were purchased for 6000

on march 1 fixtures and equipment were purchased for 6000 with a downpayment of 1500 plus a 4500 note payable in one

  The stockholders'' equity section of benton corporation

The stockholders' equity section of Benton Corporation's balance sheet as of December 31, 2014 is as follows:

  Operates in a suburban neighborhood

Varmit-B-Gone is a pest control service that operates in a suburban neighborhood.

  Wilgers company has budgeted sales volume of 30000 units

wilgers company has budgeted sales volume of 30000 units and budgeted production of 27000 units while 5000 units are in

  Disadvantages of the partnership form of organization

Brent Houghton and Dick Kreibach are considering a business venture. They ask you to explain the advantages and disadvantages of the partnership form of organization.

  Krauss leasing company signs a lease agreement on january 1

krauss leasing company signs a lease agreement on january 1 2013 to lease electronic equipment to stewart company. the

  Eugene and velma are married for 2012 eugene earned 25000

eugene and velma are married. for 2012 eugene earned 25000 and velma earned 30000. they have decided to file separate

  Manufacturing overhead is a special type of account discuss

manufacturing overhead is a special type of account. discuss its nature and determine if it is a balance sheet account

  A company has a minimum required rate of return of 9 it is

a company has a minimum required rate of return of 9. it is considering investing in a project that costs 210000 and is

  How many pages do the financial statements occupy what is

how many pages do the financial statements occupy what is the balance date of the financial statements and in what

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd